Zambia advances financial crime prevention and sustainable finance initiatives

Zambia is advancing its financial regulatory and sustainability frameworks through new international partnerships and regional cooperation. In Chilanga, Zambian officials held a two-day Public-Private Sector Dialogue on anti-money laundering, countering the financing of terrorism, and counter-proliferation financing (AML/CFT/CPF). Attorney General Mulilo Kabesha established three priorities for this new partnership: accelerating information sharing, converting data into actionable intelligence, and coordinating actions to protect the national economy and mineral wealth.

The dialogue included delegates from Liberia, Zimbabwe, South Africa, the United States, and the European Union. Financial Intelligence Centre Director General Clement Kapalu noted that the mining sector remains vulnerable to fraud, tax evasion, and money laundering. This initiative follows Zambia’s recent progress in meeting 38 of 40 Financial Action Task Force recommendations.

Separately, Zambia and Botswana are strengthening cooperation regarding sustainable finance. A high-level knowledge exchange involving Zambia’s Securities and Exchange Commission, the United Nations Development Programme, and private sector stakeholders focused on funding climate resilience and biodiversity conservation. The discussions aimed to utilize capital markets to mobilize public and private finance for environmental and economic priorities, particularly within the Kavango Zambezi Trans Frontier Conservation Area.